“Allowing government to borrow unlimited funds from general revenue to keep the Balancing Pool afloat is a gross misuse of hard-earned taxpayer dollars,” said Rick Fraser, Progressive Conservative critic for Energy and MLA for Calgary-Southeast. “We must be perfectly clear, we are facing electricity price volatility and a depleted Balancing Pool because of aggressive and ideological NDP policies.”
NDP policies such as the accelerated phase-out of coal and increases to the Specified Gas Emitters Regulation have decimated investor confidence, brought about price volatility and will now require tax dollars to save the Balancing Pool from bankruptcy by the end of the fiscal year.
“For over a decade, the Balancing Pool has had a positive balance at the end of each year. Now that taxpayers have to cover the impending shortage, our record deficit will only continue to balloon,” said Fraser. “The Progressive Conservatives will adamantly oppose piling even more onto our growing deficit simply because the NDP failed to understand the full impacts of their ideological policies.”